Momentus Inc. (NASDAQ: MNTS) ("Momentus" or the "Company"), a U.S. commercial space company that offers transportation and other in-space infrastructure services, has signed a contract modification with NASA's Kennedy Space Center to provide orbital delivery services to transport two satellites to orbit for NASA's LLITED mission targeted to launch in 2023.
This mission highlights the unique value proposition of Momentus' Orbital Service Vehicle (OSV) that can transport a customer from the launch vehicle's standard drop-off orbit to a specific orbital destination using its high delta-v capability that aims to provide significant changes in velocity to propel the payload to its desired custom orbit.
"Being a trusted provider to NASA and other government agencies is an area we plan to make part of our core business and future growth," said Momentus Chief Executive Officer John Rood. "The capabilities and flexibility of our OSV are well suited to support a range of complex missions for government and commercial customers. We look forward to supporting this important scientific mission for NASA and others in the future."
Selected in 2018 as a part of NASA's CubeSat Launch Initiative, the Low-Latitude Ionosphere/Thermosphere Enhancements in Density (LLITED) mission features two 1.5U spacecraft designed, built, and operated by The Aerospace Corporation. These CubeSats will measure and study two features of the nighttime upper atmosphere: the equatorial temperature and wind anomaly that occurs in the neutral atmosphere, and the equatorial ionization anomaly that occurs in the region containing charged particles. The LLITED mission will make an important contribution toward understanding weather in space that impacts our lives on Earth.
Momentus is a U.S. commercial space company that offers in-space infrastructure services, including in-space transportation, hosted payloads and in-orbit services. Momentus believes it can make new ways of operating in space possible with its planned in-space transfer and service vehicles that will be powered by an innovative water plasma-based propulsion system that is under development.
This press release contains certain statements which may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding the aggregate value of Common Shares which may be issued pursuant to the ATM Program and Momentus’ expected use of the net proceeds from the ATM Program, if any. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Momentus’ control. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to risks and uncertainties included under the heading “Risk Factors” in the Annual Report on Form 10-K filed by the Company on March 9, 2022, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at investors.momentus.space. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.